Unity Software reported Q3 revenue of $622 million, up 32% and above the $567.44 million estimate, and its first GAAP-profitable quarter since its IPO. It forecast Q4 strategic revenue of $683 million to $691 million.
Unity Software reported Q3 revenue of $622 million, up 32% year over year and above analyst estimates of $567.44 million. Adjusted earnings per share were $0.25 versus an estimate of $0.05, while adjusted EBITDA was $257 million versus an estimate of $189.13 million. The company posted net income of $122 million, its first GAAP-profitable quarter since its IPO.
Unity forecast Q4 strategic revenue of $683 million to $691 million, up 65% to 67% year over year. It expects strategic Grow revenue of $515 million to $520 million and adjusted EBITDA of $290 million to $295 million.
Unity said its Vector product drove 126% year-over-year growth in its advertising business. Higher Grow Solutions revenue reflected growth in the Unity Ads Network, partly offset by lower ironSource Ads Network revenue. Create Solutions revenue increased on higher subscriptions, partly offset by lower cloud and hosting services revenue.
